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LendingCrowd Self Select ISA

Up to £350 cashback when you invest! Terms apply – read more about our offers.

An Innovative Finance ISA (IFISA) is the new way to invest tax free* in peer-to-peer lending. Just like Cash ISAs and Stocks & Shares ISAs, you can invest up to £20,000 this tax year, and you won’t pay tax on your returns*.

*As an investor, it's important to remember you're lending to businesses so your capital is at risk. Tax treatment depends on the individual circumstances of each investor and may be subject to change in future. LendingCrowd and its products are not covered by the Financial Services Compensation Scheme.

The chart below shows the distribution of investor returns from Self Select accounts. It includes accounts that are at least three months old, with a maximum exposure to one loan of no more than 5%. You’ll notice that returns are more variable than the Growth ISA. Self Select is a higher-risk investment choice. To maximise your returns, you need to diversify your investments and continuously reinvest your monthly repayments of capital and interest.

How it works

The LendingCrowd Self Select ISA allows you to invest in peer-to-peer lending without having to pay tax on your returns. You decide how much to invest — from a minimum of £20 up to £20,000 this tax year. With a Self Select ISA you choose how to invest your money on the Loan Market. There are two types of loan you can invest in:

New loans — bid in an online auction where you decide how much you would like to lend to each borrower, and at what interest rate. You can invest from as little as £20 and bid at rates starting from 5.95%*.

Existing loans — you can buy loans from other investors on our Loan Market. There is no bidding involved and you can invest instantly.

We also allow you to transfer in your other ISA accounts. This means you can invest even more in the LendingCrowd Self Select ISA without losing any tax benefits. As an investor, it’s important to remember you’re lending to businesses so your capital is at risk. LendingCrowd and its products are not covered by the Financial Services Compensation Scheme. Tax treatment depends on the individual circumstances of each investor and may be subject to change in future. *Investors can lend at rates between 5.95% and 14.25% based on LendingCrowd’s Credit Bands. Interest rates are guided by the credit grading allocated to each loan. Higher-risk investments may yield greater returns but can also lead to lower returns if the business can’t fully repay its debts. This is known as bad debt. Find out more at our Risk matters page.

Accessing your money

Your peer-to-peer investment with LendingCrowd is fully flexible.You can cash in all or part of your Self Select ISA account balance at any time by selling your investments on our Loan Market. There’s a 0.5% fee for selling your loan parts. The time taken to access your funds depends on how quickly your holdings are sold. The ability to sell your investments depends on other investors buying your loans.

Summary Terms & Conditions

This offer applies to new and existing lenders, who sign up for this promotion from 00:01 on 7 May 2019 and before 23:59 on 14 June 2019.

Qualifying lenders must deposit and lend, before 23:59 on 14 June 2019: £5,000-£4,999.99 to receive £50 cashback; or £10,000-£9,999.99 to receive £100; or £20,000-£19,999.99 to receive £200; or £50,000 and above to receive £300.

Plus, receive an additional £50 when you transfer an ISA of £10,000 or more from another provider to LendingCrowd during the Promotion.

Note, this is the net amount to be added and any withdrawals will be counted against this.

Funds can be added to your account by debit card, bank transfer, or by transferring an existing ISA from another ISA provider to LendingCrowd.

The cashback award will be paid into the lender’s Self Select Account within 30 days of the promotion end.

Lenders who receive the cashback award must keep a minimum balance of their qualifying investment plus the cashback award in the platform for 12 months from the date of receiving the cashback award.

LendingCrowd reserves the right to withdraw the promotion offer or amend the terms of this promotion at any time. See the full offer terms here.

Any questions? Get in touch

*Capital is at risk. Target rate is variable, net of ongoing repayment fees and bad debt, and excludes the cashback offer. Tax treatment depends on the individual circumstances of each investor and may be subject to change in future. LendingCrowd and its products are not covered by the Financial Services Compensation Scheme.

It's easy to get started

Open a Self Select ISA

It’s fast and simple to do online

Add funds to your account

You can open an account with £20 and add to it at any time

Choose your investments

Invest in new or existing loans on the Loan Market

Watch your investment grow

Keep up to date with your account activity on your Account page

Create your LendingCrowd Self Select ISA

Open an ISA

Invest up to £20,000 ISA allowance with LendingCrowd by investing in the Loan Market.

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As an investor, it’s important to remember you’re lending to businesses so your capital is at risk. Borrowers need to be mindful that defaulting might lead to the debt being passed to an agency for collection. LendingCrowd and its products are not covered by the Financial Services Compensation Scheme.

**This is the estimated annual return that investors could earn. It’s calculated by taking the gross interest rate less fees and estimated bad debts that could occur in the future. The average return is compounded and before tax. Find out how we calculate actual returns.

***Investors can lend at rates between 5.95% and 14.25% based on LendingCrowd’s Credit Bands. Interest rates are guided by the credit grading allocated to each loan. Higher risk investments may yield greater returns but can also lead to lower returns if the business can’t fully repay its debts. This is known as bad debt. Find out more at our Risk matters page.

If you invest through LendingCrowd you should understand that your capital is at risk.

LendingCrowd is the trading name of Edinburgh Alternative Finance Limited, Company Number SC468392, authorised and regulated by the Financial Conduct Authority (Firm reference number 670991). LendingCrowd and its products are not covered by the Financial Services Compensation Scheme.